F&M Bank to acquire Little Chute office from TCF Bank.KAUKAUNA, Wis.--(BUSINESS WIRE)--Jan. 29, 1996--F&M Bank -- Kaukauna and TCF See Trenton Computer Festival. Bank Wisconsin fsb today jointly announced that they had signed a definitive agreement for F&M to purchase TCF's office located in Little Chute, Wis. In the transaction, F&M will acquire the approximately $8.0 million of deposits of the Little Chute office, and the building, and fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → . The transaction is subject to regulatory approvals and other conditions, but is expected to be completed in the second quarter of 1996. Terms of the agreement were not disclosed. The agreement was jointly announced by Gail E. Janssen, chairman of F&M Bank -- Kaukauna and Timothy P. Bailey, president & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TCF Bank Wisconsin. Janssen stated, "This office in Little Chute will enable us to increase the service we provide to customers in the Fox Valley area. By expanding in this market and upholding our locally driven community banking strategy, we will be able to better meet the needs of the entire community. F&M will continue to develop strong customer relationships by offering a competitive, progressive line of financial products to fit the lifestyles of the people we serve." "We at TCF look forward to working to make the transition to F&M as smooth as possible for our Little Chute customers. TCF Bank retains its commitment to our other locations in the Fox River Valley area," said Bailey. "We have invested more than $1.5 million in the last year to enhance the delivery of our products in this market. Our intent is to continue to provide our downtown Appleton, Grand Chute, and Menasha customers with convenient service and product delivery at those locations." F&M Bank -- Kaukauna is a subsidiary of F&M Bancorporation, Kaukauna. F&M Bank -- Kaukauna currently has three full service offices in Kaukauna (2) and Darboy. In the Fox River Valley, F&M Banks serve customers through 10 full service offices. Upon completion of this transaction and other pending acquisitions, F&M Bancorporation will serve customers at 48 locations throughout Wisconsin, and will have assets of over $1 billion. F&M Bancorporation stock trades on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market System, under the symbol "FMBK". TCF Bank Wisconsin is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of TCF Financial Corp., a $7.2 billion savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. holding company based in Minneapolis. Headquartered in Milwaukee, TCF Bank Wisconsin has 28 branches throughout the state including offices in Milwaukee, Waukesha, Racine, Kenosha, Madison, Walworth, Whitewater, and Appleton. Additional lending offices are in Green Bay, Wausau, West Bend West Bend, industrial city (1990 pop. 23,916), seat of Washington co., E Wis., on the Milwaukee River; inc. 1885, consolidated with Barton in 1961. Tools and dies, plastics, machines, dairy items, and leather products are made there. A two-year branch of the Univ. , Fond du Lac Fond du Lac (fŏn` də lăk', –jə–), city (1990 pop. 37,757), seat of Fond du Lac co., E central Wis., in a resort region at the south end of Lake Winnebago; inc. 1852. , Sheboygan, Waukesha, Stevens Point and Janesville. CONTACT: F&M Bancorporation, Kaukauna Linda K. Seefeldt, 414/766-1717 or TCF Bank Wisconsin, Milwaukee Nancy Kane, 414/351-8635 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion